September 29, 2015
Axis Insurance Co.'s attempt to preemptively escape paying out to PNC Financial Services Group Inc. under a $25 million excess policy for the bank's potentially massive exposure to a funeral scam jury verdict and separate overdraft fees litigation is not ripe for adjudication, a Pittsburgh federal judge held Tuesday.
March 25, 2015
Axis Insurance Co. disclaimed responsibility for a $356 million verdict against PNC Bank NA, saying in a declaratory suit filed in Pennsylvania federal court Tuesday that the verdict — over a predecessor's role in a $600 million insurance scam involving prepaid funeral contracts — isn't covered under Axis' policy.